martes, 26 de noviembre de 2013

Trade is 'key tool' for EU growth

Adherence to international trading standards will be a crucial
element of improved EU-China relations, explains Pablo Zalba Bidegain

Trade
and investment are the key tools in Europe emergence from the current
crisis, in that they generate growth and employment, as evidenced by
recent data from Spain. The European Union is aware of this and is
working hard to build an extensive network of trade and investment
agreements.

The two trading powers of China and the EU have been
called upon to come together and work towards this goal, which they have
clearly demonstrated through the bilateral agreement negotiations they
have been conducting between them. Direct Chinese investment in Europe
continues to grow and is now in excess of two per cent while the EU's
investments in the Asian giant are currently approaching 20 per cent,
meaning that this agreement is to play an important role in promoting
and strengthening social and economic relations between the two blocs
through the establishment of a stable, legally secure framework.

The
desire to improve and deepen our social and economic relations must be
evident if we are to have the ability to deal with any potential trade
issues that may arise. How do we make this desire to improve and deepen
our relations a reality? The answer lies in complying with international
standards, particularly those set by the World Trade Organisation. The
open investigation currently being conducted by China to determine
whether imports of European wine are being subjected to dumping has
provided them with an opportunity to set a precedent in this regard. The
investigation will hopefully be concluded in the very near future in
compliance with the said standards, as this situation has resulted in
the European commission having to keep in continuous contact both with
the European parliament and our wine-growing industry.

Without
such agreements, or the will to enter into them, developing our own
strong trade relationships in our times will be impossible. We look to
China and the European Union to set the example for such development.